EDP concludes solar PV deal in Vietname and strengthens its position in Asia

  • ECO News
  • 8 September 2022

EDP has completed the acquisition of two solar PV projects in Vietnam, with a total capacity of 200 MWac.

EDP, via EDP Renováveis, has strengthened its presence in the Asia-Pacific region by completing a deal with Xuan Thien Group for the acquisition of two solar photovoltaic projects in Vietnam totalling 200 MWac (255 MWdc), the company announced on Wednesday.

According to a statement sent to the Portuguese Securities and Exchange Commission (CMVM), “the deal was reached for a total consideration of US$284 million,” and also included a 20-year PPA, with a price of US$93.5 per MWh (megawatt hour).

The agreement between the companies was also reached “together with an additional earn-out conditioned to performance achievement,” and EDP said it was the first step towards establishing a long-term partnership between the two.

“With this transaction, EDP doubles its operational capacity in Vietnam, strengthening its presence in the APAC region, a market where it entered in 2021 and has been since reinforced with the integration of Sunseap in February 2022,” the company explained.